Far East Gold (ASX:FEG) Surges Over 33% on Cash Takeover Bid from Xingye Gold

FEG

2 min read | May 28, 2026 11:58 AM AEST | By Sonal Goyal

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Far East Gold (ASX:FEG) Surges Over 33% on Cash Takeover Bid from Xingye Gold — Image source: Company Update

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Highlights

Far East Gold has received an unsolicited off-market takeover offer from Xingye Gold (Hong Kong) Mining Company Limited at AUD 0.13 per share in cash.

Shares of FEG surged 33.33% to AUD 0.12 following the announcement.

The Board is reviewing the proposal with advisers.

Far East Gold Limited (ASX:FEG) shares surged 33.33% to AUD 0.12 on 28 May, gaining AUD 0.030 during the session, after the company announced receiving an unsolicited off-market takeover offer from Xingye Gold (Hong Kong) Mining Company Limited. The proposal seeks to acquire all ordinary shares in FEG not already owned by Xingye Gold for cash consideration of AUD 0.13 per share.

Board Reviewing Offer Terms

FEG stated that the takeover proposal was unsolicited and confirmed that no discussions or negotiations occurred with Xingye Gold before the Bidder’s Statement was received.

The Board is reviewing the offer terms with support from its legal and financial advisers. The company also confirmed it has engaged Thomsons as legal adviser in relation to the proposal.

Shareholders Advised to Take No Action

Shareholders have been advised not to respond to the takeover offer until further notice.

According to the company, a formal recommendation from the Board, together with detailed information regarding the offer, will be provided in the company’s forthcoming Target’s Statement.

The receipt of the unsolicited takeover proposal marks a significant development for Far East Gold as the company reviews the terms presented by Xingye Gold.

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